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The dot coin market cap is a crucial metric that can be a bit overwhelming, especially for new investors. Market capitalization is the total value of all outstanding coins.
To put it simply, market capitalization is calculated by multiplying the total supply of coins by the current price of each coin. This gives us a snapshot of the overall size of the market.
As we'll explore further, the market capitalization of a dot coin can fluctuate rapidly, making it essential to stay up-to-date with the latest market trends.
If this caught your attention, see: Crypto Stablecoins
What Is DOT Coin
DOT Coin is a cryptocurrency that has gained popularity in recent years. It's the native token of the Polkadot network, which enables interoperability between different blockchain platforms.
The Polkadot network allows for the transfer of any type of data or asset between blockchains, making it a versatile and powerful tool. This feature is made possible by the DOT Coin, which serves as the network's primary utility token.
DOT Coin holders can vote on the governance of the Polkadot network, giving them a say in the direction of the project.
For more insights, see: Polkadot Coin
What Is
DOT Coin is a utility token that powers the Polkadot network, a decentralized platform that enables interoperability between different blockchain networks.
Polkadot is a decentralized platform that allows different blockchain networks to interoperate, enabling seamless communication and data transfer between them.
The Polkadot network is built on a unique architecture that allows for the creation of custom blockchains, called parachains, which can connect to the main network.
Polkadot's parachain system enables the creation of custom blockchains that can connect to the main network, allowing for a wide range of use cases.
DOT Coin is used as a governance token to vote on proposals and participate in the decision-making process within the Polkadot network.
The Polkadot network has a unique governance system that allows DOT Coin holders to vote on proposals and participate in the decision-making process.
DOT Coin is also used as a fee to pay for services on the Polkadot network, such as creating and managing parachains.
The Polkadot network has a unique fee structure that allows users to pay for services using DOT Coin.
What Is?
Polkadot is the first fully-sharded blockchain, enabling scalability by allowing specialized blockchains to communicate with each other in a secure, trust-free environment.
The Polkadot system is made up of a single open collaborative decentralized network called the relay chain, which interacts with many other external chains run in parallel called parachains.
Parachains are clients of the relay chain, receiving a security service that includes secure communication, with the relay chain's sole purpose being to secure these clients.
Polkadot differs from other layer-1 chains, acting instead as a 'layer-0' platform that connects blockchain networks to a single unified network.
What Makes Unique?
Polkadot is a sharded multichain network that can process many transactions on several chains in parallel, improving scalability.
This parallel processing power allows for quick and easy development of custom blockchains using the Substrate framework. Substrate blockchains are designed to be easy to connect to Polkadot's network.
The network is highly flexible and adaptive, enabling the sharing of information and functionality between participants. This adaptability allows for automatic upgrades without the need for a fork, making it easier to implement new features or remove bugs.
Polkadot has a sophisticated user-driven governance system where all token holders have a vote in how the network is run. This system allows teams to customize their own blockchain's governance based on their needs and evolving conditions.
Nominators, validators, and collators all play important roles in securing and maintaining the network, and eradicating bad behavior. These roles are crucial to the network's overall health and security.
Token Information
The dot coin market cap is comprised of various tokens, each with its own unique characteristics.
The total token supply of dot coin is 21 million.
One of the notable tokens in the dot coin market cap is the DOT token, which is the native cryptocurrency of the Polkadot network.
The DOT token has a fixed supply, with 10% allocated to the foundation, 20% to the treasury, and the remaining 70% to the public sale.
Token Circulation
Polkadot's token circulation has undergone significant changes over the years. The network's redenomination after a referendum in 2020 increased DOT balances by 100, resulting in a total of 1 billion new DOT tokens.
This redenomination was done to simplify calculations and avoid using small decimals, but it didn't impact the distribution of DOT or holders' proportional share. The initial maximum supply of 10 million old DOT became 1 billion new DOT tokens.
Polkadot's first initial coin offering (ICO) was held in October 2017, and 2.24 million tokens were sold at a price of $0.29. The second ICO was held in July 2020, selling 342,080 DOT tokens at a price of $1.25.
Discover more: 1 Inch Coin Market Cap
Currency Conversion
Polkadot's value can fluctuate constantly, making it essential to stay up-to-date on its current worth in various currencies.
You can easily find out how much Polkadot is worth in other currencies, such as USD or EUR, by checking the latest market prices.
Polkadot's value is often compared to other cryptocurrencies, like Bitcoin or Ethereum, to gauge its performance and growth potential.
To get a clear picture, you can convert Polkadot's value to local currencies like your own country's currency, making it easier to understand its worth.
The value of Polkadot in other currencies can be found in real-time, allowing you to make informed decisions about your investments.
Additional reading: Difference between Market Capitalization and Enterprise Value
Buying and Selling
To buy and sell Polkadot (DOT), you can check out the top exchanges like Binance, Huobi Global, OKEx, Coinbase, and KuCoin, which are listed on Polkadot's markets page on CoinMarketCap.
You can find the most active and dominating exchanges for buying and selling Dotcoin on Binance, Kraken & Kucoin.
To check Polkadot price live in your preferred fiat currency, use CoinMarketCap's converter feature directly on the Polkadot currency page.
The most popular Dotcoin trading pairs are listed on various exchanges, and you can access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges through the Crypto Deal Directory.
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Price and Charts
The Polkadot price has seen its fair share of ups and downs. The current price is $7.72 USD with a 24-hour trading volume of $294,603,336 USD.
Polkadot has a market cap of $11,853,140,307 USD, ranking it #17 on CoinMarketCap. The circulating supply of DOT coins is 1,535,598,041.
In 2020, the DOT price was range-bound between $3 to just over $6. A major rally started in the last few days of 2020 and continued through 2021, with the price more than doubling from around $9 to over $19 in just 16 days.
The all-time high for DOT is $55, recorded on November 4, 2021. However, the price has plummeted by more than 80% since its ATH in the prevailing 2022 crypto bear market.
You can track the Polkadot price and charts on CoinMarketCap or use our unique COIN360 cryptocurrency heatmap to follow the broader market.
Here's a brief overview of Polkadot's price history:
Note: The table above only shows the two ICOs mentioned in the article.
How It Works
Polkadot's network is made up of independent blockchains, known as parachains, that can communicate with each other through the Polkadot Relay Chain. This allows for interoperability across the network.
Polkadot can process more than 1,000 transactions per second, making it a high-throughput network.
The Relay Chain uses the NPoS consensus mechanism, where validators add new blocks and verify the data recorded in them. Validators also secure the network by staking DOT, which discourages wrongful actions.
Validators earn transaction fees in DOT for their contribution to the network.
Collators maintain parachains by putting parachain transactions into parachain blocks and providing proof to validators. They receive rewards in DOT for their participation.
Polkadot's transactions per second (TPS) limit could go from 100,000 to a million, making it much more scalable than Ethereum.
Nominators choose validators by staking their own assets in the NPoS consensus mechanism, which is similar to delegated proof-of-stake but with a difference – nominators can lose their staked assets if they select a bad actor.
Validators and nominators can stake their DOT crypto holdings to participate in the consensus mechanism.
Frequently Asked Questions
Will a dot reach $1000 dollars?
To reach a $1000 valuation, DOT's market cap must reach at least 1.4 trillion. Reaching this milestone is a significant challenge, but it's a crucial step for DOT's potential growth.
What will a dot be worth in 2025?
According to our latest forecast, a Polkadot (dot) is expected to be worth approximately $7.53 USD by January 1, 2025, representing a 12.22% increase from its current value.
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